Payday loans in Toronto
Skip the storefront. Apply online from anywhere in Toronto with a licensed Ontario payday lender, and get funds by Interac e-Transfer if approved.
Maximum Allowable Cost per $100 Borrowed: $14.00
Our cost per $100 borrowed: $14.00
Example: Your $500 loan for 14 days
Amount Advanced $500.00 · Total Cost of Borrowing $70.00 (365% APR) · Total You Repay $570.00
This poster is required under the Payday Loans Act, 2008
Loansville Inc. · Lender · Ontario payday lender licence #4741249 · Licence expires March 16, 2027 · Address on licence: 157 Bridge Street, Unit B, Carleton Place, ON K7C 2V6
Key facts for Toronto borrowers
- Serving Toronto, including North York, Scarborough, Etobicoke, East York and York, online. No store visit needed.
- Loan amounts: $100 to $1,500 (first-time borrowers up to $500).
- Cost: $14 per $100. Example: $500 for 14 days costs $70 (365% APR), $570 total.
- Funds by Interac e-Transfer, usually within 1 hour of approval.
- Apply 24/7. Most applications get an automated decision.
- Cancel within 2 business days without penalty. No rollovers.
Online or storefront: same rules
Toronto has payday lenders on many main streets. An online lender is covered by the same Ontario Payday Loans Act, 2008 as a store: the same $14 per $100 cap, the same two-business-day right to cancel and the same ban on rollovers. The difference is that you don't need to travel or wait in line.
Before you borrow from anyone, online or in person, check their Ontario licence number. Ours is #4741249. Be wary of websites that collect your details and then pass them to other lenders.
Getting your e-Transfer in Toronto
Toronto is home to the head offices of Canada's biggest banks, and e-Transfer works the same way with RBC, TD, Scotiabank, BMO and CIBC, as well as online banks like Tangerine and Simplii. One exception: KOHO accounts aren't accepted, so if KOHO is your main account, use a bank or credit union account that receives your pay.
When funds are sent, you get an Interac e-Transfer notification by email or text. If you have Autodeposit turned on, the money goes straight into your account. If not, you accept it in your banking app.
Living costs in Toronto and when a payday loan makes sense
Toronto has some of the highest housing costs in the province, and many people juggle rent, transit and childcare on tight margins. If a payday loan is the answer to a recurring shortfall rather than a one-time surprise, look at the cheaper options in our alternatives guide first.
How to apply from Toronto
- Apply online on our application page, any time of day.
- Verify your bank account by signing in to your online banking. In most cases, no paystubs are needed.
- Get a decision. Most applications get an automated decision. Some need a manual review, which can take longer.
- Get your money by Interac e-Transfer, usually within 1 hour of approval.
Who can apply
- You live in Ontario and are 18 or older, with valid photo ID.
- You have at least $2,500 a month in income, paid by direct deposit. Benefit income as your only income isn't accepted.
- You can sign in to your online banking so we can verify your bank account. KOHO accounts aren't accepted.
Meeting these requirements doesn't guarantee approval.
What it costs
Loansville charges $14 per $100 borrowed, the maximum allowed in Ontario. A $500 loan for 14 days costs $70, which is a 365% APR, so you repay $570. If a payment is returned unpaid, a $20 NSF fee applies. See what a payday loan costs in Ontario for the full breakdown.
Toronto payday loan questions
Is an online payday lender regulated like a Toronto storefront?
Yes. Online and storefront payday lenders in Ontario follow the same Payday Loans Act, 2008, including the $14 per $100 cap. Loansville's Ontario licence number is #4741249.
Can I use my KOHO account?
No. KOHO accounts aren't accepted. You need a bank or credit union account with online banking for verification.
Does Toronto have its own payday loan rules?
The cost cap and borrower rights come from Ontario law, so they're the same in Toronto as everywhere else in the province.
Questions? Email [email protected] anytime, we respond 24/7. Also serving: Mississauga, Barrie, Hamilton and all of Ontario.
Sources: Government of Ontario, Payday loan: your rights; Payday Loans Act, 2008. General information, not legal advice.